FCA - Più investimenti e nessuna delocalizzazione: ecco le condizioni per il prestito Sace (at https://www.quattroruote.it/news/industria-finanza/2020/06/21/fca_piu_investimenti_e_nessuna_delocalizzazione_ecco_le_condizioni_per_il_prestito_sace.html ) Google Translate: The commitments. To obtain the loan, already approved by the board of directors of Intesa Sanpaolo, Fiat Chrysler will have to increase the investments of the industrial plan for Italy from 5 billion to 5.2 billion, with the additional 200 million destined for the Melfi plant, in Basilicata. The Italian-American manufacturer will also have to avoid relocation operations, achieve the goal of full employment by 2023 and undertake not to sell the Maserati, Alfa Romeo, Fiat, Fiat Professional, Abarth, Lancia brands and participation in Sevel, the joint venture with PSA for the production of commercial vehicles in Atessa. The conditions will be included in the loan contracts together with further provisions: of the 6.3 billion euros it is established that 800 million are allocated to the Italian workforce, 1 billion for research and development and 4.5 billion to support payments to around 10,000 suppliers. In this regard, we are talking about specific constraints for foreign suppliers: there are around 1,400 and in their favor there should be no more than 1.2 billion. No dividends.Other conditions concern the distribution of dividends. FCA Italy, which has requested access to the state guarantees instrument and will be the only beneficiary, will not be able to distribute any coupons in 2020. This is a prerequisite already explicitly provided for in the decree, which established the entire framework of loans with state guarantees up to 80% of the amount. The Italian subsidiary of the automotive group is not, however, in a position to issue coupons to the controlling holding: the Turin-based company has, in fact, closed 2019 with a drop in turnover from 27.2 billion to 24.37 billion and with a loss of 384.2 million euros, against the red of 1.26 billion in 2018, and its parent company was forced to proceed last year with a 3 billion euro recapitalization to provide the resources needed to carry out the 5 billion investment industrial plan. On the other hand, there will be no limits to the possibility for the parent company to distribute the extraordinary dividends of € 5.5 billion established pendingmerger agreement with PSA .